OPEC oil down by

25 November 2024

OPEC oil down by $0.54

23:45 24 February 2016 Read: 1426

OPEC oil down by $0.54

OPEC oil basket

The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela)

Negative dynamics is observed in world oil prices on Feb. 24 amid Saudi Arabia’s statements about the impossibility of reducing production. The price of April futures for North Sea Brent crude oil mix decreased by 1.59 percent and stood at $32.76 per barrel on Feb. 24 as of 12:00 (UTC/GMT +4 hours). This is while the price of April futures for WTI oil decreased by 2.54 percent and reached $31.08 per barrel.

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